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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 11 December 13
THE INDONESIAN GOVERNMENT IS CONSIDERING SETTING A REGULATION ON THE MINIMUM PURITY TO REGULATE UNPROCESSED ORE BAN
COALspot.com: Energy and Mineral Resources Minister Jero Wacik recently proposed to house those mining (mineral) companies that had shown a commitme ...
Wednesday, 11 December 13
BDI REACHED A PEAK OF YEAR RECORD OF 2,237 POINTS WHICH IS A SIGNIFICANT CHANGE IN MARKET CONDITIONS
Getting closer to the end of 2013, it is important that we have a review of the course the market has taken these past 12 months by looking at the B ...
Tuesday, 10 December 13
HNL, AN INDIAN STATE-OWNED NEWSPRINT PAPER MAKER SEEKS 50K TONS OF INDONESIAN 5600 COAL
COALspot.com: Hindustan Newsprint limited (HNL), an Indian state owned news print paper producer invited bids to supply 50,000MT of min 5,200kcal/kg ...
Tuesday, 10 December 13
COLOMBIAN THERMAL COAL EXPORTS SLIPPED 25.54% M-M IN OCTOBER'13
COALspot.com: Colombia's Thermal coal exports in October dropped 25.54% month on month to 5,990,815.13 million mt, according to data from mining de ...
Tuesday, 10 December 13
NEWCASTLE COAL EXPORTS PLUNGE W-O-W
COALspot.com: In the week ended December 9, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.50 ...
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- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- The University of Queensland
- Parliament of New Zealand
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
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